Phoenix Enterprises has a profit margin of 6.1%, a total asset turnover of 2.8, and a return on equity (ROE) of 22.40%. What is this firm's debt-equity ratio?

Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter7: Analysis Of Financial Statements
Section: Chapter Questions
Problem 6P
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What is this firm's debt-equity ratio?

Phoenix Enterprises has a profit margin of 6.1%, a total asset turnover of 2.8, and a
return on equity (ROE) of 22.40%. What is this firm's debt-equity ratio?
Transcribed Image Text:Phoenix Enterprises has a profit margin of 6.1%, a total asset turnover of 2.8, and a return on equity (ROE) of 22.40%. What is this firm's debt-equity ratio?
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